3 year fixed mortgage rates canada

If you are thinking of purchasing a new home or remortgage an existing one and are looking at 3 year fixed mortgage rates in Canada, then you must look at a few factors before arriving at a conclusion. To start with, do not confuse your 3-year mortgage term with the amortization period. Secondly, go for a short-term mortgage if you think the market would remain stagnant or fall further otherwise a longer-term would be more beneficial. A three-year mortgage term works best for those who have future plans of renovating their home or are unsure of the duration of their stay.

RateGuru is amongst the best-fixed mortgage rates providers in Canada with an experienced team of licensed mortgage professionals. Our expertise and knowledge have helped several Canadian homeowners make better borrowing decisions through lower mortgage rates and more effective debt consolidation strategies. Speaking of a 3-year mortgage plan, around 15% – 20% Canadians opt for this option because the fixed rates are lower and that helps in mortgage renewal on more favorable terms. If you too are looking for the best-fixed mortgage rates provider in Canada, reach out to us for a piece of truly unbiased advice.


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*Calculation does not include mortgage insurance premium. Mortgage insurance premium will depend on your credit profile and the down payment amount. Assume an extra $20 per payment on average, over the amortization period of the mortgage.

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First Mortgage
First time mortgage doesn’t mean only the first home home that you buy. It can also mean the primary lien on the property you are planning to buy. It’s not about the level of home buying but the property itself. The term mortgage is a security for the lender.